While Stock Index Increases Overall, UDS Stumbles

The Dow Jones Industrial Average spiked 497.66 points, or 4.43 percent, and closed at 11722.98 during the month-long period ending Jan. 14. The CSNews Stock Index also sped forward, picking up 223.66 points, or 4.95 percent, ending at 4742.45. Three companies fell to new annual lows, while one company rose to a new annual high.

Ultramar Diamond Shamrock (UDS), San Antonio, stumbled this month, losing 2.06 points, or 8.78 percent. The company announced the sale of 70 of its service stations to USA Express. The stations, located in Houston, San Antonio, Corpus Christi and central Texas, represent the fourth sale of assets completed by UDS this year. Proceeds will go toward paying down a large portion of the company's long-term debt. UDS ended at $21.44.

Coastal Corp., Houston, moved forward by 2.56 points, or 7.66 percent, ending at $36. Coastal purchased the stock of TransCanada Gas Processing USA and other natural-gas liquids marketing assets, located in Louisiana, for a deal valued at $26 million. Chairman and CEO David Arledge said, "The facilities in Louisiana are relatively close to our growing natural-gas production from the Gulf of Mexico and connect to several major interstate pipelines, including one operated by Coastal subsidiary ANR Pipeline Co. In addition to complementing our existing natural-gas operations, these assets are well positioned to take advantage of the expected growth in natural gas production coming ashore in southern Louisiana during the next decade and beyond."

Shares of Ashland Oil Corp., Russell, Ky., gained 0.75 points, or 2.30 percent, after the company was initiated by Banc of America Securities with a rating of "buy." Ashland closed at $33.31.